Found April 13, 2012 on
The Daily Rival:
The Kings’ future in Sacramento looked bright in February, when the city and the team’s owners, the Maloof family, agreeing to a deal for a new downtown stadium that would keep the franchise in the city for the foreseeable future. But now the Maloofs now appear to be having second thoughts with the deal, and the city’s mayor, Kevin Johnson, wrote the family a letter Thursday reminding them of their “handshake” deal.
The Maloofs, who as part of the original tentative deal agreed to front $75 million for the arena’s construction, are complaining about a $3.26 million contribution toward environmental studies and other pre-development hurdles and are contending that they never agreed to the fee. The NBA has already reportedly loaned the Maloofs $200,000 to help cover those costs.
With the Maloofs potentially willing to balk at the whole stadium proposal all together, Johnson sent a letter to the family that was obtained by the media, reminding them of their responsibility to honor their commitment.
First, all parties agreed to a deal in Orlando on February 27th, codified in the term sheet subsequently approved by our City Council. At the time, George Maloof explained the Maloof Family’s reason for agreeing to the deal, saying to the Sacramento Bee that is it a “fair deal…worth taking.”
Any representation that a deal was not reached is simply not consistent with the perspective of every other party to the negotiation nor the actual statements of the family. [...]
The best – and only – way to demonstrate that commitment is to honor the “fair deal” as all other parties have done. Your handshake is your handshake. Your promise is your promise.
Johnson notably stood at center court hand in hand with brothers Joe and Gavin Maloof back in February during the first home game after the tentative deal was announced. Johnson (a former NBA point guard) is now on his way to New York to meet with the league and the Maloofs to hopefully find a resolution for this matter.
According to the Sacramento Bee, a group of 25 business owners sent a letter to Commissioner David Stern calling for new ownership of the Kings. That’s something that Johnson has reportedly also suggested.
I can think of people who’d be willing to buy the Kings, but I don’t think too many of them would be planning to keep them in Sacramento. So, for now, get used to Cheap Plastic Bracelet Arena (or whatever it’s called now), Kings fans, because that might be the only place you’ll ever see them play in Sac Town.
[H/T Eye on Basketball; Photo by Robert Couse-Baker]
BEST OF MAXIM
It’s now up to David Stern to clean up the arena mess in Sacramento, a position the NBA commissioner finds himself in on Friday as he prepares to meet with Sacramento Mayor Kevin Johnson and Sacramento Kings ownership, the Maloofs.
If this Board of Governors’ meeting opens with a round of handshakes it might be the last time Mayor Johnson extends his hand to the Maloofs...
NBA Commissioner David Stern said Friday a new arena in Sacramento is "not going to happen," amid major concerns from the Sacramento Kings' owners about the financing and political obstacles confronting the project before their desire to have the facility open before the 2015 season.
A basketball official close to the situation but unauthorized to speak publicly said...
A deal to build a new stadium to house the Sacramento Kings has fallen apart.
The team's owners, the Maloof family, backed out of plan to finance a $391 million arena, putting the future of the franchise in doubt.
Sacramento Mayor Kevin Johnson, a former NBA player, said the deal approved last month by the city council was dead.
"(The Maloofs) are now saying they don...
Watching the presser with David Stern told me one thing: He really does not like the way the Maloofs are handling themselves. At all. Their press conference was to convince an anti-trust jury (because that's where this is heading--I'll explain in a bit) that the NBA has in it for the Maloofs in Sacramento.
David Stern admitted several key facts that many people had been...
It appears that the Mayor of Sacramento -- former NBA star Kevin Johnson -- is making it clear to the Sacramento Kings that the city WILL NOT renegotiate the proposed arena deal, which would keep the basketball team from packing up and leaving the city.According to Sports Illustrated, a letter -- which was released Thursday night -- was sent out to the Maloof family, as Johnson put...
The Kings' future in Sacramento is uncertain again.
A tentative deal for a new arena has fallen through, leaving open the possibility the team's owners could again try to move from California's capital.
The Maloof family said Friday it wants to remain in Sacramento, and Commissioner David Stern says he believes them. But Stern also said it was the Maloofs' right...
The final official hurdle for the Nets' move to Brooklyn was cleared Friday, when the NBA's Board of Governors unanimously approved the team's relocation across the Hudson River to the Barclays Center, where the team will begin play this fall.
"We voted to formally approve the move, and the team name, which will be the Brooklyn Nets," NBA commissioner David...
There seem to be more questions than answers when it comes to the Sacramento Kings' future in California's capital.
There is no question that the Kings need to start playing better.
Sacramento will try to end a season-high seven-game losing streak Sunday when it hosts a Portland Trail Blazers team nearing elimination from the playoff race.
Although a tentative agreement...
Momma taught us to share and I think the Dallas Mavericks listened, because they shared a part of the overall glory of a win tonight over the Sacramento Kings. Now a lot of people might think that since the Kings are not in the upper part of the Conference that you can just beat them with ease, that is not the case at all.
The Kings have some talented players and they showed some...
Sources say a group of 25 business leaders were expected to release a letter to David Stern calling for new ownership of the franchise.
David Stern can't be happy with Charles Barkley today. That's because the Inside the NBA star analyst appeared on ESPN 1000's Waddle & Silvy in Chicago and insinuated the fix may be in for the upcoming NBA Draft Lottery. The Charlotte Bobcats will have the most ping pong balls after one of the worst seasons in NBA history, and not even Michael Jordan would pass...
Friday was both a great day for the NBA and a sad one. First Commissioner David Stern announced that New Orleans Saints' owner Tom Benson had purchased the New Orleans Hornets. Then Stern announced that the Maloof Brothers had more or less taken a dump on the city of Sacramento, Mayor Kevin Johnson and most importantly thousands of loyal Kings fans by backing out of arena...
The ever-controversial Charles Barkley. Saying things that make NBA Commisioner, David Stern spit out his chicken noodle soup. Chuck was saying stuff again today. This time on ESPN 1000 in Chicago.
Speaking about the 2012 NBA Draft, Barkley said:
I’ve got to tell you something, I’m really concerned about the number one pick in the draft this year. Well, number one, I think Michael...
The title...yeah that's pretty much the short version.
The Maloofs don't want to be in Sacramento. They are backtracking away from a deal they said they were comfortable with. Now they are faced with the reality that the Kings will no longer be theirs. Except, the Family has refused to accept it and will fight to the bitter end.
What will this all mean? It will likely cost...